Key Factor Supporting Sintered Steel Market Development in 2025: Automotive Sector Expansion Fueling Growth In The Sintered Steel Market

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How Large Will the Sintered Steel Global Market Report 2024 Market Size By 2025?
In recent times, the sintered steel market has consistently expanded in size. It is projected to escalate from a value of $16.44 billion in 2024 to approximately $17.23 billion in 2025, reflecting a compound annual growth rate (CAGR) of 4.8%. The previous period's growth is attributed to factors such as the high demand for high-performance and lightweight materials, expanded usage of sintered steel in the automotive industry, the proliferation of the manufacturing and industrial sectors, the requirement for tough and durable materials, and the expanding electronics industry.

How Big Is the Sintered Steel Global Market Report 2024 Market Size Expected to Grow by 2029?
The market for sintered steel is predicted to experience consistent expansion in the upcoming years, reaching a value of $20.7 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 4.7%. The increase over the projection period can be attributed to factors like the escalating electric vehicle (EV) market, heightened demand in the aerospace sector, advancements in additive manufacturing, and exploration in the oil and gas sector. Major trends likely to shape the market during this period include developments in powder metallurgy, advanced alloys integration, digitalization paired with industry 4.0, usage in 5g technology, and emerging technological progress in the powder metallurgy field.

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Which Key Market Drivers Powering Sintered Steel Global Market Report 2024 Market Expansion and Growth?
The sintered steel market's growth is being propelled by the expanding automotive sector and the rising demand for innovative designs. The innovation speed is increasing within the automotive industry due to the concepts of electrified, autonomous, connected, and shared vehicles. In particular, software-based systems are seeing rapid advancements, leading to a requirement for cars to be upgradeable. Sintered components are being incorporated more and more in the automotive industry, especially in places where they can replace forged metal parts. For example, in July 2023, the total vehicle production in the United States was reported to be 11.77 million units by the Board of Governors of the Federal Reserve System, a US government agency. This was a significant increase from 10.91 million units in June. Therefore, it is expected that the expanded automotive sector and the surging demand for creative designs will continue to fuel the sintered steel market's growth.

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Which Fast-Growing Trends Are Poised to Disrupt the Sintered Steel Global Market Report 2024 Market?
Leading enterprises in the sintered steel market are concentrating their efforts on the evolution of novel processing technologies like metal injection moulding. This trend has arisen due to the need for high-volume manufacturing of minute, complex metal components. Metal injection moulding is a production method that combines plastic injection moulding with powder metallurgy, offering accurate and efficient creation of detailed metal parts. To illustrate, Desktop Metal, a technology firm situated in the US, introduced PureSinter Furnace in June 2024. This high-purity, single-use system for debinding and sintering is tailored to processing metal parts made through both novel additive manufacturing techniques, such as bound metal deposition and binder jetting, and traditional practices like metal injection moulding (MIM) and press and sinter. It addresses prevalent challenges of sintering contamination with a unique design featuring hot walls to obstruct accumulation and maintain an airtight environment for improved efficiency and purity. Capable of reaching 1,420°C, it allows for the use of various gases including argon, nitrogen, forming gas, and air, and has an innovative cooling system that abolishes the requirement for water cooling.

What Are the Emerging Segments in the Sintered Steel Global Market Report 2024 Market?
The sintered steel market covered in this report is segmented -

1) By Type: Stainless Steel, Carbon Steel, Alloy Steel, Tool Steel
2) By Process: Metal Injection Molding (MIM), Conventional Manufacturing, Powder Forging Manufacturing, Additive Manufacturing
3) By Application: Engines, Transmissions, Body, Chassis, Drivetrain, Electrical, Other Applications
4) By End-User Industry: Transportation, Industrial, Electrical, Other End-Users

Subsegments:
1) By Stainless Steel: Austenitic Stainless Steel, Ferritic Stainless Steel, Martensitic Stainless Steel
2) By Carbon Steel: Low Carbon Steel, Medium Carbon Steel, High Carbon Steel
3) By Alloy Steel: Low-Alloy Steel, High-Alloy Steel
4) By Tool Steel: High-Speed Steel (HSS), Cold Work Tool Steel, Hot Work Tool Steel

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Who Are the Global Leaders in the Sintered Steel Global Market Report 2024 Market?
Major companies operating in the sintered steel market include CNPC Powders Inc., Guest Keen & Nettlefolds Ltd., Samvardhana Motherson International Ltd., Hitachi Chemical Co. Ltd., The Miba Group AG, ASCO Sintering Co., Sintercom India Ltd., AMES BARCELONA SINTERING S. A., Schunk Sinter Metals GmbH, CNPC Powders Inc., Erasteel Ltd., Advanced Technology (Bazhou) Special Powder Ltd., Hoganas AB, Polema JSC, Sintered Metal Corporation, Posco India Pvt. Ltd., Nippon Steel Corporation, Outokumpu Oyj, ArcelorMittal SA, Schmolz+Bickenbach AG, Thyssenkrupp Stainless AG, Acerinox S. A., Mirach Metallurgy Co., SSI Sintered Specialties LLC, Mechanical and Chemical Industry Corporation, Atlas Pressed Metals, Technymon Global Bearing Technologies S. r. l, Federal-Mogul Goetze Limited, Resonac Corp., Stackpole International Ltd., Tungsten Heavy Powder Inc., Umicore S. A., VAC AERO International Inc., Valtimet Oy

Which are the Top Profitable Regional Markets for the Sintered Steel Global Market Report 2024 Industry?
Asia-Pacific was the largest region in the sintered steel market in 2024 and is also expected to be the fastest-growing region in the forecast period. The regions covered in the sintered steel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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